Meta Platforms (NASDAQ:META) PT Raised to $620.00 at Monness Crespi & Hardt

Meta Platforms (NASDAQ:META) had its target price increased by investment analysts at Monness Crespi & Hardt from $570.00 to $620.00 in a report issued on Monday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the social networking company’s stock. Monness Crespi & Hardt’s price target indicates a potential upside of 7.55% from the company’s current price.

META has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft lifted their target price on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a research report on Thursday, September 26th. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Citigroup raised their price target on shares of Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $660.00 price objective on shares of Meta Platforms in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $597.95.

Meta Platforms Trading Up 0.7 %

NASDAQ:META opened at $576.47 on Monday. Meta Platforms has a 52 week low of $279.40 and a 52 week high of $583.04. The firm has a 50-day moving average price of $519.65 and a two-hundred day moving average price of $500.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the business posted $3.23 earnings per share. On average, equities analysts expect that Meta Platforms will post 21.36 earnings per share for the current fiscal year.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $570.00, for a total value of $235,410.00. Following the completion of the sale, the chief operating officer now directly owns 12,359 shares in the company, valued at $7,044,630. The disclosure for this sale can be found here. Insiders sold a total of 308,462 shares of company stock worth $162,308,065 over the last quarter. 13.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds have recently added to or reduced their stakes in META. Vantage Financial Partners LLC raised its stake in shares of Meta Platforms by 3.2% in the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after purchasing an additional 41 shares during the last quarter. Concentrum Wealth Management increased its holdings in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares in the last quarter. Rollins Financial raised its position in Meta Platforms by 7.5% in the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after buying an additional 2,133 shares during the last quarter. Prudent Man Advisors LLC bought a new position in Meta Platforms during the 4th quarter valued at about $533,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Meta Platforms by 16.9% during the 4th quarter. Jones Financial Companies Lllp now owns 31,943 shares of the social networking company’s stock valued at $11,307,000 after acquiring an additional 4,612 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.